Published on : Aug 25, 2015
A China-based company called Innovate Manufacturing announced that it plans to begin production in Knoxville.
The firm will open the first U.S. head offices in this location, adding 50 jobs to the company’s profile. This is a strategy to manufacture goods relatively closer to the interest of buying customers.
Innovative Manufacturing is renovating the firm in Westbridge Industrial Park to stretch it to 30,000 sq-ft and open an injection molding operation too. Around 11 people are employed at the company presently; however, the company has plans to increase the workforce to around 50.
The total investment planned is $47 million.
The company has plans to specialize in injection stretch blow molding, injection molding, and extrusion stretch flow molding. However, the option for tooling is still under construction and production. The segment’s launch is slated to begin in late September, the company announced.
The Vice president of economic development with the company at Knoxville Chamber said that the company had purchased the building but were waiting for the set-up of the equipment.
The Chamber and the Department of Economic and Community Development works together on recruiting the company to East Tennessee.
Moreover, the onshoring activities are gaining pace in lowering the costs for companies manufacturing their products in the U.S. The company has four factories and an emerging engineering office in China. It decides to move part of its operations to the U.S. due to energy costs and lower shipping to its customer base. The company is into kitchen products, plastic goods, and drinking bottles.
Innovative Manufacturing anticipates growth in the near future. The new location is expected to create jobs in the community to bring substantial investment and serve the foundation for future growth in this region, he added in his company statement.